Is Genomic Health (GHDX) Stock Outpacing Its Medical Peers This Year?
Investors focused on the Medical space have likely heard of Genomic Health (GHDX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of GHDX and the rest of the Medical group’s stocks.
Genomic Health is a member of the Medical sector. This group includes 761 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. GHDX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for GHDX’s full-year earnings has moved 12.39% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, GHDX has returned 57.46% so far this year. Meanwhile, stocks in the Medical group have gained about 2.52% on average. This means that Genomic Health is outperforming the sector as a whole this year.
Breaking things down more, GHDX is a member of the Medical – Biomedical and Genetics industry, which includes 281 individual companies and currently sits at #107 in the Zacks Industry Rank. On average, this group has gained an average of 0.59% so far this year, meaning that GHDX is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on GHDX as it attempts to continue its solid performance.
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